Objective
Students will be able to:
- Identify and explain the meaning of key budgeting terms such as disposable income, family budget, variable expense, fixed expense, balanced budget, and net worth.
- Identify the elements of a typical monthly family budget including income, expenses, and savings.
- Apply the concepts of costs and benefits to the budget-making process.
In this personal finance lesson, students will practice making budgeting decisions for a young family.
Book Info
This lesson is part of Financial Fitness for Life 9-12, 3rd Edition and provides the slides and activities with educational technology tools. For full access to the book, shop the teacher guide and student workbook below.
Teacher Guide |
Student Workbook |
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Description
This lesson introduces some basics of money management. It uses a radio call-in show script to help students learn about setting up a family budget and distinguishing between income and net worth. It also allows students to practice making budgeting decisions by having them make budgeting recommendations for a young family.